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The Securities and Futures Commission (SFC) published its Consultation Conclusions on Proposals to Enhance Asset Management Regulation and Point-of-sale Transparency and Further Consultation on Proposed Disclosure Requirements Applicable to Discretionary Accounts ("Conclusions") in November last year, which adopted important proposals to strengthen Hong Kong’s fund manager supervisory regime.

In addition to making extensive changes to the Fund Manager Code of Conduct, the SFC has adopted amendments to the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission ("Code of Conduct") which will come into effect on 17 August 2018. The changes, which encompass enhanced disclosures and restrictions on use of the term ‘independent’, aim to improve point-of-sale transparency and better address potential conflicts of interest in the sale of investment products. The SFC has also provided further guidance in the form of FAQs on its expectations in these areas.

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